Irish Residential Properties REIT

M&A Activity • May 8, 2018

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8 May 2018

This announcement contains inside information regarding Irish Residential Properties REIT plc for the purpose of the Market Abuse Regulation (Regulation (EU) No 596/2014)

I●RES to Acquire 128 Apartments for €39.995m

Irish Residential Properties REIT plc (“I•RES” or the “Company”) announces that it has entered into an agreement to acquire 128apartments with 128 car parking spaces located at The Square, Hampton Wood, Finglas, Dublin 11 for a total purchase price of €39.995 million(including VAT, but excluding other transaction costs). The acquisition will be funded by the Company’s existing credit facility. Subject to completion of the acquisition, which is expected to occur by the end of May 2018, I•RES will own 2,579 residential units under professional management in Ireland.

The brand new self-contained apartments were developed by Dwyer Nolan Developments and comprise 46 1-bed and 82 2-bed apartments. 24 of the apartments have been leased by the vendor leaving 104 apartments available for immediate lease up following completion of the acquisition on market terms. Based on current annualized passing residential rents and lease up of the remaining 104 unleased apartments at market rents, the asset is expected to generate a gross yield of c. 6.25%.

Located between junction 4 and junction 5 of the M50 motorway, the scheme is a short distance from Dublin City University (DCU) (4 kms), Dublin Airport (6.5 kms), Northwood Business Park (2.5 kms) and Dublin City Centre (8.5 kms). The scheme is also located circa 1km from the Charlestown development where I•RES owns and manages 235 apartments. The scheme is further served by regular bus services to Dublin City Centre (including a Quality Bus Corridor).

The local area (4km radius) provides a population of circa 40,000 people and is served by excellent retail and leisure amenities for tenants including IKEA, Charlestown Shopping Centre, Odeon Cinema, Gullivers Retail Park, Ben Dunne Gym, Santry Park and Morton Stadium.

Major local employers in the area include; DCU, Bristol Myers Squibb, DHL, Dublin Airport, IKEA, BMW, IBM and Coca Cola.

Margaret Sweeney, the Company’s Chief Executive Officer commented:

“We are very pleased to announce the acquisition of this accretive asset, and to continue to extend I●RES’ investment in additional apartments in North Dublin. Hampton Wood provides new quality apartments, which will be attractive homes, located next to excellent infrastructure and employment providing easy access to both Dublin airport and Dublin City Centre. I•RES has a good understanding of the local residential market and we expect seamless management on takeover due to the close proximity of this development to Charlestown where we currently own and manage 235 apartments.”

For further information please contact:

For Investor Relations:

Irish Residential Properties REIT plc

Margaret Sweeney, CEO

+353 (0) 1 4456386

For Media Requests:

Q4PR

Gerry O’Sullivan

• 353 87 2597644

About Irish Residential Properties REIT plc

Irish Residential Properties REIT plc is an Irish Real Estate Investment Trust (“REIT”) listed on Euronext Dublin. The Company is the first REIT established in Ireland primarily focused on residential rental accommodations. The Company will continue to seek to acquire, hold, manage and develop investments primarily focused on residential rental accommodations in Ireland. I•RES currently owns 2,451 residential units. Further information in respect of I•RES can be obtained from I•RES’ website at www.iresreit.ie.

Note on forward-looking information

This note applies if and to the extent that there are forward-looking statements in this Announcement.

This Announcement may contain forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Company will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.